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Greece recommended for next batch of bailout

06-04-2011 10:00 BJT

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Greece is poised to receive the next installment of its bailout in July, after a near month-long inspection of the country's public finances.

Debt inspectors from the European Union, European Central Bank and International Monetary Fund say Greece is expected to receive the next installment from a 110 billion dollar bailout fund. The statement was made Friday after Greek finances and reforms were judged to meet the required terms. Luxembourg Prime Minister and President of the Eurogroup Jean-Claude Juncker, held a meeting with Greek Prime Minister George Papandreou. He said he expected Greece's Euro partners to stump up more money and that the private sector will be asked to help out on a voluntary basis.

Jean-Claude Juncker said, "I am totally convinced that the privatization plans that the Greek government was working out will be implemented quickly, will be implemented in a transparent and credible way. On that basis, I expect the Eurogroup to agree to additional financing to be provided to Greece, under of course strict conditionality. This conditionality will include private sector involvement on a voluntary basis and this private sector involvement will have to be negotiated with private creditors."

Editor:Du Xiaodan |Source: CNTV.CN

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